Pool Corp Slashes FY23 Outlook As Q2 Results Miss Estimates

RTTNews | 1149 days ago
Stocktwits
Pool Corp Slashes FY23 Outlook As Q2 Results Miss Estimates

(RTTNews) - Pool Corp. (POOL) on Thursday reported that net income for the second quarter declined to $232.25 million or $5.91 per share from $307.28 million or $7.63 per share in the prior-year quarter.

Excluding the impact from ASU 2016-09 in both periods, adjusted earnings for the quarter were $5.89 per share, compared to $7.59 per share for the year-ago quarter.

Net sales for the quarter decreased 10 percent to $1.86 billion from $2.06 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $6.20 per share on revenues of $1.91 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, Pool lowered its earnings guidance to a range of $13.14 to $14.14 per share from the prior outlook range of $14.62 to $16.12 per share. The Street expects earnings of $14.94 per share for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: POOL
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Shares of Domino's Pizza Inc. and swimming pool supplier Pool Corp. gained significantly in the extended trading in New York on Thursday after billionaire investor Warren Buffett's Berkshire Hathaway Inc. took stake in them. In the pre-market activity, Domino's shares were moving up 8 percent and Pool shares were up 7 percent.
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